Stock market today: What to expect from Nifty, Sensex, Bank Nifty in trade on September 14

livemint.com:

Indian stock market is likely to open higher on Thursday led by positive global cues as the Asian markets traded higher while US stocks ended mixed overnight. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading higher at 20,183 level as compared to the Nifty futures’ previous close of 20,129.

The domestic benchmark equity indices witnessed a decent rally on Wednesday with the benchmark Nifty closing above 20,000 level for the first time ever. On Wednesday, the Sensex rallied 245.86 points to 67,466.99, while the Nifty ended 76.80 points higher at 20,070. Nifty formed a reasonable positive candle on the daily chart that placed beside the negative candle of Tuesday.

“Technically this market action indicates that bulls are still not out of the game. Though selling pressure is emerging from near 20,100 levels, there is no confirmation of any top reversal pattern forming at the new highs. But, a decisive upmove above 20,100-20,150 levels is expected to bring more upside towards 20,350-20,450 levels in the near term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Also Read: 5 things that changed for market overnight: Gift Nifty, US inflation to global market cues for Sensex today Here’s what to expect from Nifty and Bank Nifty today: The frontline Nifty index ended above the 20,000 mark, marking a historic closing high. “The prevailing sentiment remains optimistic, contingent on put writers safeguarding the 19,900 level. A drop below 19,900 could unsettle put writers, potentially triggering market corrections.